Vancouver City Council is targetting its vacant home tax to encourage rentals in the downtown.
Getting on for a year ago, we published a story that, among other things, described Vancouver, British Columbia’s attempts to penalize absentee homeowners who keep housing empty and off the housing market. Try: Increasing Housing Affordability: Unlocking The ‘Empty Homes’ Puzzle
Vancouver’s approach? A tax on empty homes, generating either tax money for housing, or forcing reluctant homeowners to rent out idle housing.
Does it work? Well, the results are trickling in, and Vancouver seems to think the initiative is performing as hoped.
Read more at the CBC: City of Vancouver says 2018 empty homes tax eased tight rental market
